The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1887-09-04
FINANCE AND MINING.
A Slight Improvement in
Business Circles.
ORE AND BULLION OUTPUT
News From the Mines-Co-op. Stock
jumping Mining Stocks Quiet !
The Deep Greek Interests.

Business among the merchants during
the week just past has been quite fair
an improvement, if anything, over the
week previous. There is not little
satisfaction expressed by some of the
merchants-smaller dealers especially
over the prospect Of q shutting down
of the bathing resorts, which they
claim have done much to, divert cash
away from them into other channels.
Many fain to believe that business will
show q great improvement when the
lake season is no more. This, however,
is laughed at by the railway people,
who say the merchants seem to forget
how many thousands were disbursed in
the early spring and even up to the
present time, in buildings, improve
ments, etc., by which many hundred
men were given employment.
when the whole matter is sifted down
and summed up, 1t will probably be
found that the saloon-keepers and res
whose receipts have suffered from the
Throughout, the business portion, of
the community, however, there is a
very hopeful feeling, and glorious
visions of big near future. Real es-
tate, while held stiff, has moved some
during the last week; figures of which
were not obtainsble. The prospects of
dividing up some of the large business
blocks has created considerable favor
able comment, and If 1t is taken hold of
with any vigor, may lead 10 some i'm
portsnt transfers in the heart of the
city.
Z.C.M. 1. reports big business for the
month of August, with large increase
over the corresponding month of year
ago. Collections are reported as fair.
G. E. Johnson, who recently re-
turned from an extensive tour through
southern Utah, says crops generally
as far south as Cedar City, Iron
sequence, a good feeling prevails among
the grangers in that section. This
means that with q fair market, the
farmers will be enabled to meet their
bills, with something like promptitude,
and still have wealth enough to tide
them over in good shape. Below Cedar
City, however, the outlook is not so
favorable. and the buoyant feeling is
not so apparent.
Brokers report money easy at and 10
per cent, and loans are readily obtain.
able at those figures on good security.
In some rare instances, lesser interest
has been offered and taken, but as a
rule, the figures do not vary from those
named above.
Stocks during the week have been
very inactive; only one or two sales
have been reported, and these were not
the parties Immediately concerned.
u. G. M. 1. stock continues to advance
steadily towards $110. the figure at
which it is said there are some large
blocks for sale. When it touches there.
however, it is probable holders will
again move up several pegs. Sales took
place during the week both at $108 and
$199. Utah Southern Extensions sold at
1872 in New York on August 18th, a
slight fall from last week.
Dun's review of eastern trade says the
tendency OF prices during the past week
has been upward for most products,
and the state OF business is rather bet
ter, but there is still much hesitation
and irregularity. The money market,
for speculative uses, is made easier by
gold imports and treasury purchases of
bonds, but much mercantile paper is
discounted with difficulty, and some
considerable failures cause uneasiness.
The volume of legitimate business is
large, but not equally distributed, and
in important branches there is shrink
age. Wheat has been going abroad
largely, but mainly on purchases of one
or two months ago, and the export de-
msnd has been so checked by improved |
foreign crop reports that even only 1s4d. |
for freight to Liverpool fails to produce |
activity. Prices are about where they
were a week ago. The yield in spring |
wheat States appears to be excellent. |
Cotton is strengthened by extrsvagant |
reports of injury to the crops. Sugar
has been advanced, o foreign
corner in beet sugar being the |
cause. Beef Is dearer, with |
no change in hogs. Copper advances,
with sales of /, 200 900 pounds in q day, |
on account of the fire in the Calumet
and Hecla nine. The wool trade is /
hesitating; at Chicago wool is called |
1.-THE desdest thing above ground" In
the wooilen goods trade there is no i'm
GObbOd HOVua ore
largely distributed at firm prices. The
leather market is quiet, but rather
frmer, and boot and shoe manufactur-
ers report better orders, with less de-
crease than was expected from the
drought-damaged regions. Imported
silks are offered at prices unprecedent-
eddy low.
The iron business is in uncertain
shape. Competition Of southern pig is
felt, and stocks are accommodating
rapidly, while large imports continue
Manufactured iron also appears to &C
cumulate, and western competition is
felt by eastern mills. The uncertainty
in Wall Street, and, behind that, the
enormous diversion of available capital
to other uses, affect the iron interest
0ckly.
st lcks have been weak. with SPELLS of
rather rapid depression, and some
r. slizing by discouraged investors. On
the other hand, signs of foreign buying
still are not wanting, though that Is not
the only explanation that can be given
of gold imports; forsign investments in
real estate. manufactures and mines l.